By KUNA,
Washington : US officials and the worlds top oil executives, including from Kuwait, met on Wednesday in Houston to discuss rising energy price and opportunities to explore new ways of energy sources.
Over 2,000 oil companies along with US Deputy Assistant Secretary of Energy for Oil and Gas James Slutz, US Congressman and Chairman of Energy Committee Nick Lampson, OPEC representatives, and energy experts are meeting at Reliant Park in Houston, Texas for the 2008 Offshore Technology Conference.
“This conference is very important to learn about new technologies available on the market and look for offshore exploration,” said Khaled al-Saif, Managing Director of Kuwaits National Petroleum Services to Kuwait News Agency (KUNA).
He added that the Kuwaiti energy delegation representing the public and private sectors did interact with their international counterparts during the conference to pave the way for future cooperation in producing crude or offshore oil.
With the theme of this year conference “Waves of Change”, participants discussed the challenges facing the oil and gas industry, the pressure on the supply side with the increase in oil prices, the return of national oil companies, technology, the environment and limited resources available.
On the demand side, participants debated issues related to biofuels, air quality, climate change, trade pattern shifts towards Asia, and the role of emerging economies.
Panelists also addressed in a general session the global energy outlook and ways to explore new sources of affordable and sustainable energy, to reduce industry costs and address environmental concerns.
“The purpose of our attendance the show with kuwaiti delegation is to promote international trade between the united states and kuwait”, said Ahmad Yousef, a commercialist specialist in the US Embassy in Kuwait.
“We see this conference as a benefit to kuwait as it is now beginning to open up the market and explore new ideas”, added Yousef who is accompanying the Kuwaiti delegation to Houston.
The US Department of Commerce collaborated with OTC to host industry breakfasts for participants to discuss emerging areas of Qatar, China, and Indonesia.
The four day conference also includes an exhibition area where over 2,300 exhibitors display their latest technology on an area covering more than 540, 000 net square feet in addition to a new feature for the OTC Conference this year, a bookstore featuring publications by OTC sponsoring societies.
Offshore Technology Conference (OTC), founded in 1969, is an international event for the development of offshore resources in the fields of drilling, exploration, production, and environmental protection.